Li-Cycle Holdings Corp. Issues 8-K Filing Highlighting 2024 Operational Achievements

On January 10, 2025, Li-Cycle Holdings Corp. (NYSE: LICY) released its 8-K filing, focusing on the preliminary commercial and operational highlights for the full year of 2024. The report provides insight into the company’s significant accomplishments and strategic advancements during the past year.

Commercially, Li-Cycle continued to expand its footprint as a preferred lithium-ion battery recycling partner in 2024. The company’s notable achievements include securing major customers encompassing leading global battery supply chain entities such as electric vehicle (EV) original equipment manufacturers (OEMs), battery manufacturers, and material buyers. Notably, a U.S.-headquartered EV and battery manufacturer, with a substantial global EV market share, emerged as Li-Cycle’s largest source of battery feedstock throughout 2024.

Ajay Kochhar, President and CEO of Li-Cycle, expressed satisfaction with the company’s broadening commercial presence and emphasized their sustainable recycling technology’s value for global customers. The technology, capable of processing full-pack batteries without dismantling or discharging, aligns with Li-Cycle’s commitment to providing environmentally friendly solutions to the industry.

Operationally, Li-Cycle underscored its focus on securing full financing for the Rochester Hub project’s construction restart and optimizing Spoke performance. Notably, the company generated approximately 5,370 tonnes of black mass and equivalents in 2024, with a further 1,200 tonnes produced in Q4 2024. The emphasis remains on enhancing Spoke performance to ensure financial efficiency and self-sustainability.

As of December 31, 2024, Li-Cycle reported cash and cash equivalents of $22.6 million, compared to $32.2 million as of September 30, 2024. The company raised $16.3 million in net proceeds between August 12, 2024, and December 31, 2024, through its at-the-market program. Additionally, the total number of issued and outstanding common shares stood at 30,427,796 as of December 31, 2024.

Li-Cycle anticipates releasing its full-year 2024 financial and operational outcomes in the first half of March 2025. By harnessing innovative and sustainable Spoke & Hub TechnologiesTM, Li-Cycle aims to continue leading the charge in global lithium-ion battery resource recovery, pivotal in establishing a closed-loop battery supply chain for a cleaner energy future.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Li-Cycle’s 8K filing here.

About Li-Cycle

Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.